PNG Credit Corp profit jumps 346 per cent
Updated
As banking and finance stocks around the world plummet, Papua New Guinea's Credit Corporation has just announced a record half-yearly profit of $US93 million.
That is a massive 346 per cent increase on last year.
The company now has assets worth $313m.
Credit Corp's Managing Director, Noreo Beangke told Radio Australia most of the Corporation's investments are in PNG which is isolated from the crisis happening around the world.
"Credit Corp group has a credit company and you've got property, then you've got operations in Fiji, Vanuatu, Solomons and then PNG.
"So all these little economies have not had the impact of the world crisis that appears to have been going around the major countries around the world," he said.
